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Exhibit 16.1
August 31, 2010
Securities and Exchange Commission
100 F Street, N.E.
Washington, DC 20549
Commissioners:
We have read Paulson Capital Corp.'s statements included under Item 4.01 of its Form 8-K filed on August 31, 2010 and we agree with such statements concerning our firm.
Sincerely yours,
/s/McGladrey & Pullen, LLP